14 November 2022, Monday, 13:33 154

Naftogaz Contracts First Volumes Of Gas With EBRD Loan Funds

Редактор: Daria Zubkova

The Naftogaz of Ukraine national joint-stock company contracted the first volumes of gas purchases with credit funds from the European Bank for Reconstruction and Development (EBRD).

This is stated in the message of Naftogaz, Ukrainian News Agency reports.

"The European Bank for Reconstruction and Development is one of the key strategic partners of the Naftogaz group, which provides the company with financial support and helps overcome the devastating consequences of the Russian invasion. Back in the summer, the EBRD decided to open a EUR 300 million credit facility for Naftogaz for emergency gas purchases. The first purchases have already been contracted, but the main work is still ahead. That's why we need to act in a coordinated and fast way right now," said Oleksii Chernyshov, Chairman of the Board of Naftogaz of Ukraine.

The statement reminds that in June, with the aim of sustaining this year's heating season, Naftogaz concluded a credit agreement with the EBRD to open a revolving credit facility in the amount of EUR 300 million for the purchase of imported natural gas.

This loan is part of a EUR 1 billion program that the EBRD intends to implement this year in Ukraine in cooperation with donors and other partners to support the real sector of the country's economy.

As Ukrainian News Agency earlier reported, Naftogaz attracted a credit facility of EUR 300 million from the EBRD for the purchase of gas.

In the first half of the year, the Naftogaz of Ukraine group increased its loss 34.6 times to UAH 57.2 billion.

The Naftogaz of Ukraine national joint-stock company is a leading enterprise of the country's fuel and energy complex, which is engaged in the exploration and development of deposits, drilling, oil and gas storage, oil transportation, and gas supply to consumers.